{"id":6872,"date":"2012-01-09T20:30:44","date_gmt":"2012-01-09T18:30:44","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/african-iron-jumps-after-exxaro-bid-report\/"},"modified":"2012-01-09T20:30:44","modified_gmt":"2012-01-09T18:30:44","slug":"african-iron-jumps-after-exxaro-bid-report","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/african-iron-jumps-after-exxaro-bid-report\/","title":{"rendered":"African Iron jumps after Exxaro bid report"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 9 (Reuters) &#8211; Shares in<br \/>\nAustralia-listed African Iron Ltd. rose more than 9<br \/>\npercent on Monday after an online report that South African<br \/>\ndiversified miner Exxaro was in talks to buy the iron<br \/>\nore company.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>A spokesman for Exxaro declined to comment on the Wall<br \/>\nStreet Journal report, but a source at Investec, a<br \/>\nSouth African bank which was said to be advising on the<br \/>\ntransaction, admitted a deal was in the works.<\/p>\n<p><span><\/span><\/p>\n<p>African Iron&#8217;s flagship asset is the Mayoko Iron Ore project<br \/>\nin the Republic of Congo. It is expected to start production in<br \/>\n2013 at a rate of 5 million tonnes per year, according to the<br \/>\ncompany&#8217;s website.<\/p>\n<p><span><\/span><\/p>\n<p>Exxaro, South Africa&#8217;s second-largest coal producer and a<br \/>\nmajor supplier to power utility Eskom, is scouting Africa and<br \/>\nAustralia for projects to expand into other commodities,<br \/>\nespecially iron ore and even copper.<\/p>\n<p><span><\/span><\/p>\n<p>Its $130 million bid for Australia&#8217;s Territory Resources was<br \/>\ntrumped by Noble Group last year, but Exxaro said it<br \/>\nremained keen to buy iron ore assets and eventually produce 10<br \/>\nmillion tonnes of the steel-making ingredient a year.<\/p>\n<p><span><\/span><\/p>\n<p>Shares in Exxaro were down 2.07 percent at 172.84 rand by<br \/>\n1408 GMT, compared with a 0.26 percent rise in the JSE Top-40<br \/>\nblue-chip index.\t<\/p>\n<p> (Reporting by Agnieszka Flak; Editing by Ed Cropley)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Jan 9 (Reuters) &#8211; Shares in Australia-listed African Iron Ltd. rose more than 9 percent on Monday after an online report that South African diversified miner Exxaro was in talks to buy the iron ore company. A spokesman for Exxaro declined to comment on the Wall Street Journal report, but a source at Investec, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6872","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6872"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6872\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}